Randstad Holding nv (as the legal successor of Vedior NV) announces that the British Office of Fair Trading (OFT) has issued a decision in relation to its investigation of an alleged infringement of British Competition Laws. The situation under investigation occurred four years prior to the acquisition of Vedior by Randstad in 2008. The decision is that the eight UK recruitment companies involved are found to have entered into a collective boycott of Parc UK Limited, an intermediary company, and price fixing of target fee rates for the supply of candidates to intermediaries and certain construction companies.
As communicated in October 2008, the investigation related to alleged practices in the construction and engineering recruitment industry in the United Kingdom. The matter involved several recruitment companies, including Beresford Blake Thomas Limited and Hill McGlynn & Associates Limited, which were subsidiaries of Vedior. The activities in question were of limited effect and duration.
This matter was brought to the attention of the OFT in November 2005 by Select Appointments (Holdings) Limited (parent company of Beresford Blake Thomas and Hill McGlynn, and a subsidiary of Vedior). As a result of this approach and for their full cooperation with the OFT throughout the course of its investigation, Beresford Blake Thomas and Hill McGlynn have been awarded full immunity from any fine.
Randstad takes all matters of business conduct and ethics very seriously. Our code of conduct, integrity code and competition law guide are implemented throughout the group of companies. In relation to this case clear commitments have been provided to prevent any infringement in the future.
Randstad specializes in solutions in the field of flexible work and human resources services. Our services range from regular temporary staffing and permanent placement to inhouse, professionals, search & selection, and HR Solutions. Since acquiring Vedior in 2008, the Randstad Group is the second largest HR services provider in the world with top three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece & Cyprus, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland and the UK, as well as major positions in Australia and the United States. In June 2009, Randstad had almost 28,000 employees working from over 4,300 branches and inhouse locations in 46 countries around the world.
Randstad and Vedior generated a combined revenue of € 17.2 billion in 2008. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information see www.randstad.com
